274 Harrison St · Fall River, MA 02723

$920,000

12 bd · 6.0 ba · 5,136 sqft · MultiFamily public records · 68 Days on market

Built 1900 3,999 sqft lot Est $868k · 6% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +5.7/10.0
• ARV discount +4.8/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Fall River: Excellent Investment/Income Opportunity! 6 family all with 2 bedroom units and completely deleaded. Coin-operated laundry on the premises. All stoves, refrigerators and space heaters to pass. Don't miss this! (141)

Key facts

• Strong cash flow
• Separate utilities
• 3,999 sq ft lot

Tags

• TURNKEY INVESTMENT PROPERTY
• STRONG CASH FLOW
• PROVEN RENTAL HISTORY
• SEPARATE UTILITIES
• ELECTRICAL IMPROVEMENTS
• RENOVATIONS THROUGHOUT

Property features AI

Finance

• Other: Building total area about 5,136; Multiple unit layouts: units with 1, 1, 2 and 3 floors respectively; Basement: full and partially finished; Listing status: Active Under Contract
• HOA & community: Not a senior community

Exterior

• Parking: Open parking available
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: 5–9 unit multifamily building; Approximately 10 stories
• Construction: Approximately built (year per public records)
• Exterior features: Public road frontage; Lot about 0.09 acre

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 6 full bathrooms
• Heating & cooling: Forced air heating; Space heaters
• Interior features: Living room; Kitchen; Total of 24 rooms

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $920k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $363/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $920k).
• Recommended offer: $865k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.6% in Fall River — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 61/100 on livability (#221 in MA) — a middle-class / working-renter tenant base. Strengths: health & safety A+; Watch: cost of living D+, schools D, crime F.
• Fall River (suburban): math 17% / reading 28% proficiency, ranked #288 of 302 in MA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 35 active listings in the ZIP; 760 units permitted in Bristol County in 2024 (142 in 5+ unit buildings).
• At $9,873/mo this rent would consume 249% of the median local household income ($48k/yr) (locally 1335% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.
• Bristol County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($865k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y ago; this cycle's ask is 58313% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $162k; list at $920k implies a 466% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $864,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.15%
• DSCR: 1.45
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $867,984
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31 Choate St	0.31mi	11/3.0 (-1)	4,977 (-3%)	3mo	$840,000	$169	60
117 Irving St	0.50mi	12/6.0	5,655 (+10%)	17mo	$835,000	$148	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-10,544
• Equity at exit: $137,175

10-year hold

• IRR: 8.6%
• Equity multiple: 1.65×
• Total profit: $168,360
• Equity at exit: $79,545

Cash invested: $257,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 02723

• Home prices YoY: -16.9%
• Active inventory: 35
• Price-to-rent: 46.6×

Monthly cashflow live

• Estimated rent: $9,873 high
• Mortgage (P&I): −$4,825
• Tax from tax record: −$412 /mo · $4,942/yr
• Insurance: −$383
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,073
• Net cashflow: $2,180

Break-even live

Break-even rent $7,114

Max offer price $920,000

Occupancy floor 73%

Sensitivity live

Price	-10% $2,701	-5% $2,440	+0% $2,180	+5% $1,920	+10% $1,659
Rent	-10% $1,400	-5% $1,790	+0% $2,180	+5% $2,570	+10% $2,960
Rate	-1.0pp $2,643	-0.5pp $2,414	base $2,180	+0.5pp $1,942	+1.0pp $1,699

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$9,876
Total (6 units)			$9,873

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $230,000
• Closing costs: $27,600
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $920,000 Active 68 DOM
2. 2026-06-17
   days on market $920,000 Active 67 DOM
3. 2026-06-16
   days on market $920,000 Active 66 DOM
4. 2026-06-15
   days on market $920,000 Active 65 DOM
5. 2026-06-13
   days on market $920,000 Active 63 DOM
6. 2026-06-09
   days on market $920,000 Active 59 DOM
7. 2026-06-08
   days on market $920,000 Active 58 DOM
8. 2026-06-07
   statusdays on market $920,000 Active 57 DOM
9. 2026-06-05
   days on market $920,000 Back On Market 54 DOM
10. 2026-06-03
    days on market $920,000 Back On Market 53 DOM
11. 2026-06-02
    pricestatus $920,000 Back On Market 52 DOM
12. 2026-05-23
    historical $1,575
13. 2026-05-20
    listed $1,575
14. 2026-05-12
    status Under Agreement
15. 2026-04-28
    historical Contingent
16. 2026-03-21
    listed $999,500 New
17. 2024-09-09
    historical $1,600
18. 2024-09-05
    listed $1,600
19. 2024-09-05
    historical $1,600
20. 2024-08-26
    listed $1,600
21. 2024-07-19
    historical $1,500
22. 2024-06-20
    price $1,500
23. 2024-03-30
    listed $1,650
24. 2015-03-13
    soldstatus $162,500 Sold 226-char remark

    Show marketing remark (226 chars)

    Fall River: Excellent Investment/Income Opportunity! 6 family all with 2 bedroom units and completely deleaded. Coin-operated laundry on the premises. All stoves, refrigerators and space heaters to pass. Don't miss this! (141)

25. 2015-02-20
    status Under Agreement 226-char remark

    Show marketing remark (226 chars)

    Fall River: Excellent Investment/Income Opportunity! 6 family all with 2 bedroom units and completely deleaded. Coin-operated laundry on the premises. All stoves, refrigerators and space heaters to pass. Don't miss this! (141)

26. 2014-11-20
    listed $189,900 New 226-char remark

    Show marketing remark (226 chars)

    Fall River: Excellent Investment/Income Opportunity! 6 family all with 2 bedroom units and completely deleaded. Coin-operated laundry on the premises. All stoves, refrigerators and space heaters to pass. Don't miss this! (141)

27. 2004-09-22
    soldstatus $350,000
28. 2004-09-17
    soldstatus $340,000
29. 2004-08-17
    historical
30. 2004-02-26
    listed $349,900
31. 2003-03-14
    soldstatus $229,900
32. 2003-03-14
    soldstatus $229,900
33. 2003-01-28
    historical
34. 2002-10-30
    listed $229,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $4,942 · $412/mo
• Projected year-2 tax: $8,129 · $677/mo
• Expected delta: +$3,187/yr (+$266/mo · 64.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $118,476
• − Mortgage interest: −$51,534
• − Property taxes: −$4,942
• − Insurance: −$4,600
• − Repairs & maintenance: −$9,478
• − Management: −$9,478
• − Depreciation: −$26,764
• Taxable income: $11,680
• Est. tax owed @ 24.0%: −$2,803
• After-tax cash flow: $23,356/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fall River
• NCES district ID: 2504830
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $35,773
• Composite: 18.59/100
• National rank: #8905
• State rank: #288 of 302 in MA

Livability — Fall River

• Score: 61/100
• State rank: #221
• US rank: #18220

Category grades

Amenities B- Commute F Cost of living D+ Crime F Employment D- Housing B- Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fall River, MA
• County: Bristol County · 342,083 people
• City population: 93,033
• Metro: Providence-Warwick, RI-MA
• Population (ZIP): 17,067
• Household income: $47,633
• Rent vs Own: 68.2% rent · 31.8% own
• Severe rent burden: 1335.0

Population outlook (Bristol County) Hauer SSP2

• Today (2025): 570,212 people
• By 2030: 571,181 · +0.2%
• By 2040: 565,389 · -0.8%
• By 2050: 552,141 · -3.2%
• By 2075: 520,923 · -8.6%
• By 2100: 474,363 · -16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 16% Two or more races 14% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 8%
• Common ancestry: Russian 34% Lithuanian 6% Estonian 3%
• Foreign-born: 24% · Canada, Vietnam, China
• Languages at home: 58% English-only · Other Indo-European 26% Spanish 13% French/Haitian/Cajun 1%

Political lean MEDSL · Bristol

• 2024 margin: Toss-up / Even · D 49.8% · R 48.5% · Other 1.8%
• 2008→2024 swing: -21.9pp toward R · 2008: 23.2pp · 2024: 1.3pp
• All cycles: 2024: D+1.3 2020: D+12.0 2016: D+9.3 2012: D+20.5 2008: D+23.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.57%
• Current HPI: 347.6737
• Rent YoY: —
• Metro: Providence-Warwick, RI-MA
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

-99.3% since first listed

23 events — show timeline

• 2026-05-23 Rental Removed $1,575 RENTEC
• 2026-05-20 Listed for Rent $1,575 RENTEC
• 2026-05-12 Pending — MLS PIN
• 2026-04-28 Contingent — MLS PIN
• 2026-03-21 Listed $999,500 MLS PIN
• 2024-09-09 Rental Removed $1,600 RENTALBEAST
• 2024-09-05 Listed for Rent $1,600 RENTALBEAST
• 2024-09-05 Rental Removed $1,600 RENTEC
• 2024-08-26 Listed for Rent $1,600 RENTEC
• 2024-07-19 Rental Removed $1,500 RENTEC
• 2024-06-20 Price Changed $1,500 RENTEC
• 2024-03-30 Listed for Rent $1,650 RENTEC
• 2015-03-13 Sold (MLS) $162,500 MLS PIN
• 2015-02-20 Pending — MLS PIN
• 2014-11-20 Listed $189,900 MLS PIN
• 2004-09-22 Sold (MLS) $350,000 MLS PIN
• 2004-09-17 Sold (Public Records) $340,000 Public Records
• 2004-08-17 Listing Removed — MLS PIN
• 2004-02-26 Listed $349,900 MLS PIN
• 2003-03-14 Sold (Public Records) $229,900 Public Records
• 2003-03-14 Sold (MLS) $229,900 MLS PIN
• 2003-01-28 Listing Removed — MLS PIN
• 2002-10-30 Listed $229,900 MLS PIN

Property tax history

+4.3%/yr

Latest (2023): $4,942 · +14.2% YoY. Source: county tax records.